The University of the West Indies Press
The Economic Development of Barbados
Michael Howard
The Economic Development of Barbados
US$ 9.99
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Description
Contents
Reviews
Language
English
ISBN
978-976-640-188-7
Contents
Tables
Preface
Abbreviations
Chapter 1: Introduction
Purpose of this Book
Economic Development and Growth
The Social Economy of 1937-46
Methodology
Chapter 2: Lewis and the Plantation Economy School
Introduction
Lewis’s Conceptual Framework
Lewis’s Puerto Rican Model
The Plantation Economy Model
Policy Recommendations of Plantation Theorists
Size and Plantation Economy
Summary
Chapter 3: Colonial Development Policy and Planning
Colonial Development Policy
Colonial Development Planning
Policy and Planning in the Service Economy Period
Deficiencies of Planning
Summary
Chapter 4: Evolution of the Macroeconomy
Structural Change
Aggregate Demand
Barbados’s Growth Performance
Income Inequality
The Distribution of Economic Power
Prices and Wages
Chapter 5: Agriculture
Introduction
Early Changes in the Agrarian Structure
The Resurgence and Decline of Sugar (1946-80)
Sugar in Financial Crisis and Decay (1980-2000)
Imperial Preference
Policy and Problems of Diversification
Critical Appraisal
Chapter 6: The Industrialization Process
Introduction
Manufacturing under Colonial Development
The Structure of Manufacturing after 1970
Capital and Labour Intensity
Local and Foreign Capital
Import Substitution
Capacity Utilization in Manufacturing
Small Business Manufacturing
Summary
Chapter 7: Tourism and Offshore Business
Introduction
The Nature of Tourism Dependence
Ownership of the Tourism Plant
Review of Tourism’s Impact on Development
Offshore Business
Summary
Chapter 8: Labour and Human Resource Development
Introduction
The Fisher/Clarke Thesis
The Migration Response
Economic Implications of Migration
The Sectoral Distribution of Labour
Female Employment and Participation
Human Resource Development
Unemployment in Barbados
Summary
Chapter 9: The External Sector
Colonialism, Size and Openness
Exports of Visible Goods and Services
Structural Change and Import Structure
The Commodity Terms of Trade
The Capacity to Import
The Import Surplus
Impact of Trade Liberalization
The CARICOM Single Market and Economy and the Free Trade Area of the Americas
Foreign Direct Investment (FDI)
Summary
Chapter 10: Financial Intermediation
Introduction
Evolution of the Monetary System
Development of the Financial Structure
Financial Deepening
Social Efficiency of Bank Lending
Financial Innovation
Conclusion
Chapter 11: Public Finance
Introduction
Colonial Budgeting
Taxation in the Colonial Development Period
Public Expenditure in the Colonial Period
Budgetary Policy in the Early Service Economy Period
Taxation in the Service Economy Period (Up to 1979)
Tax Reform (1977-86)
Tax Reform (1986-97)
The First Stabilization Crisis 1981
The Second Stabilization Crisis 1990-91
Privatization
Public Sector Reform
Summary
Chapter 12: Concluding Observations
The Major Findings
Economic Management
Notes
CHAPTER 1
CHAPTER 2
CHAPTER 3
CHAPTER 4
CHAPTER 5
CHAPTER 6
CHAPTER 8
References
Index
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